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Flipkart was founded in October 2007 in Bangalore [11] by Sachin Bansal and Binny Bansal, alumni of the IIT, Delhi and former Amazon employees. [12] [13] [14] The company was started from a two-bedroom apartment in Kormangala, Bengaluru. The initial investment was provided by their families, which was INR 2 Lakh from each family.
Shopsy is a zero-commission marketplace model for sellers in India . It is a digital commerce initiative by Flipkart, the Bengaluru -headquartered and Walmart-owned e-commerce company with over US$7.7 billion in annual revenue (FY 2022). [21] [22]
In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. [7]
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Known for. Co-founder, former chairman and CEO, Flipkart [ 2] Spouse. Trisha Bansal. Binny Bansal (born 1982/1983) is an Indian billionaire [ 2][ 3] Internet entrepreneur. [ 3] As of February 2024, his net worth was estimated at US$1.4 billion. [ 1] In 2007 he co-founded the e-commerce platform Flipkart. [ 4][ 5] He was the chief operating ...